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Preet K. Gill

Insolvency & Restructuring Lawyer | Litigation & Transactions

Toronto Managing Partner

As detailed in our prior blog, <a href="/Insights/Blogs/Canadian-Government-Finally-Provides-Certainty-on-Criminal-Interest-Rates">Canadian Government (Finally) Provides Certainty on Criminal Interest Rates</a>, the Government of Canada proposed amendments to lower the criminal interest rate to an annual percentage rate (APR) of 35 percent (the prior criminal interest rate, being an effective rate of 60 percent, was equivalent to an APR of about 48 percent).

Lower Criminal Interest Rate Now in Effect

Kelsey J. Meyer

Restructuring & Insolvency Lawyer | Commercial Litigation

Partner

Jesse Mighton

Insolvency and Restructuring Lawyer at Bennett Jones Toronto

In the unrelated companion cases of Aquino v Bondfield Construction Co, <a href="https://decisions.scc-csc.ca/scc-csc/scc-csc/en/item/20694/index.do">2024 SCC 31</a> and Scott v Golden Oaks Enterprises Inc, <a href="https://decisions.scc-csc.ca/scc-csc/scc-csc/en/item/20695/index.do">2024 SCC 32</a>, the Supreme Court of Canada applied the common law doctrine of corporate attribution to bankruptcy and insolvency law through a purposive, contextual and pragmatic approach.

The SCC Clarifies the Corporate Attribution Doctrine and Creditor Protection Tools in Insolvency Law

Robert W. Staley

Securities & Commercial Litigation Lawyer | Shareholder Disputes

Vice Chair and Partner

Doug Fenton

Litigation Lawyer at Bennett Jones Toronto

In ruling that a securities regulatory authority's disgorgement orders (a sanction stemming from misconduct) survive a bankruptcy discharge while its administrative penalties do not, the Supreme Court of Canada endorsed the principle that "every claim is swept into the bankruptcy and that the bankrupt is released from all of them upon being discharged unless the law sets out a clear exclusion or exemption." The Supreme Court’s decision clarifies the differing treatment of administrative penalties and disgorgement orders in the context of exceptions outlined in s. 178 of the Bankruptcy and Insolvency Act.

The Supreme Court Holds That Securities Disgorgement Orders Survive Bankruptcy

In a recent case, Bricklayers Pension Fund of Western Pennsylvania (derivatively on behalf of Centene Corporation) v Brinkley (Centene), Delaware's Court of Chancery dismissed “Caremark duty claims”—named after the 1996 case establishing a duty of oversight required by a U.S. board of directors—against members of Centene's board of directors.
Allegations against the directors focused on the failure to oversee, and deferral to, management. The decision confirms the high threshold applicable to find a breach of a director’s Caremark duty.

Delaware Court Affirms High Threshold for Breach of Directors Caremark Duties

Delaware Court Affirms High Threshold for Breach of Directors' Caremark Duties 

Cheryl M. Woodin

Commercial Litigation & Trial Lawyer

Emrys Davis

Competition & Antitrust Litigation Lawyer

Kolding Larson

Commercial Transactions Lawyer at Bennett Jones Toronto

Associate

The Federal Court dismissed a proposed C$5B class action alleging a nationwide conspiracy to fix generic drug prices, finding no basis in fact and denying certification. The decision underscores the Court&rsquo;s gatekeeping role and confirms that US enforcement actions and generalized market theories are insufficient to support competition claims in Canada without clear, particularized evidence.

Federal Court Dismisses 5 Billion Generic Drug Price Fixing Class Action

Federal Court Dismisses C$5 Billion Generic Drug Price-Fixing Class Action 

Edwin G. Kroft KC

Tax Litigation Lawyer at Bennett Jones

Andrew Young

Tax Lawyer at Bennett Jones Toronto

Mackenzie Thomas

Lawyer at Bennett Jones Toronto

Issue 41 of Bennett Jones on Tax Disputes examines recent developments in Canadian tax litigation, with a focus on jurisdictional limits, procedural compliance, and case management in the Tax Court of Canada. Featuring commentary from members of the Bennett Jones Tax group, this edition analyzes key decisions including MEGlobal, Culig, and Opheim, and provides practical guidance for taxpayers and advisors navigating tax disputes.

Bennett Jones on Tax Disputes Issue 41

Bennett Jones on Tax Disputes: March 2026

Renée Gagnon

Commercial Litigation Lawyer at Bennett Jones Vancouver

Maruska Giacchetto

Paige Lutz

Articling Student at Bennett Jones Vancouver

Articling Student

British Columbia&rsquo;s new Health Professions and Occupations Act will significantly reshape how health professionals are regulated, with changes taking effect April 1, 2026. This blog outlines key updates, including a new oversight body, updated bylaws and expanded statutory duties for licensees.

New Health Professions and Occupations Act is Coming Soon

What BC Health Professionals Need to Know Before April 1, 2026 

Oliver Loxley

Corporate Lawyer at Bennett Jones Vancouver

Aaron E. Sonshine

Corporate Finance, Mergers and Acquisitions and Corporate Governance Lawyer at Bennett Jones Toronto

Partner 

Alexandra Doane

Articling Student at Bennett Jones in Vancouver

The SEC&rsquo;s March 5 exemption preserves the existing insider reporting framework for Canadian foreign private issuers that report through SEDI, despite changes introduced by the HFIAA. This update clarifies cross-border reporting obligations and maintains the status quo for affected issuers and their insiders.

Canadian Foreign Private Issuers Remain Exempt from US Insider Reporting Requirements

James D. Beeby

Corporate Finance, M&A, Private Equity and Venture Capital Lawyer

Lisa Kakoske

Corporate and Securities Lawyer

Harpar Gill

The Canadian Securities Administrators (CSA) has introduced a voluntary Semi-Annual Reporting (SAR) Pilot allowing eligible venture issuers on the TSXV or CSE to file only six-month interim financial reports. The pilot aims to reduce reporting burdens while maintaining key continuous disclosure requirements for investors.

Gone Fishing: Subsection 231.2(3) Hooks the Anonymous Tax Evader

From the Same Authors